Steinhoff collapse averted

Steinhoff International said a three-year deal agreed with creditors and a series of asset disposals has secured the immediate future of the global retailer and its 120 000-strong workforce.

The owner of Conforama in France and Mattress Firm in the US can now look ahead to the completion of a PwC probe into the accounting crisis that has wiped more than 95% off the share price. – Bloomberg